Sunoco LP Announces Removal of Tender Cap for its Previously
Announced Cash Tender Oer for its 4.875% Senior Notes due
DALLAS, Nov. 9, 2020 /PRNewswire/ --Sunoco LP (NYSE: SUN) ("Sunoco") today announced that it has removed the
tender cap of $500.0 million for its previously announced cash tender oer (the "tender oer") of its outstanding
4.875% Senior Notes due 2023 (CUSIP Nos. 86765LAH0, U86759AE4 and 86765LAJ6) (the "2023 notes") and will
instead oer to purchase any and all of its outstanding 2023 notes. The tender oer is being made pursuant to
Sunoco's Oer to Purchase dated November 9, 2020 (the "Oer to Purchase"). Sunoco intends to fund the tender
oer with the net proceeds from its previously announced senior notes oering, which was upsized from $500
million to $800 million, and borrowings under its revolving credit facility. The maximum amount of the 2023 notes
subject to the redemption described in the Oer to Purchase, if it occurs, will correspondingly increase.
Except as described in this press release, all other terms of the tender oer as described in the Oer to Purchase
remain unchanged, including the Early Tender Deadline, Early Tender Payment, Tender Oer Consideration, Total
Consideration, Withdrawal Time and Expiration Date. Capitalized terms used in this press release and not dened
herein have the meanings given to them in the Oer to Purchase.
Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as lead dealer managers for the tender oer.
The tender agent and information agent for the tender oer is D.F. King & Co., Inc. Questions regarding the tender
oer may be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653 (Toll-free) or (212) 538-2417 or
Barclays Capital Inc. at (800) 438-3242 (Toll-free) or (212) 528-7581. Holders who would like additional copies of
the oer documents may call the information agent, D.F. King & Co., Inc. at (866) 796-6867 (Toll-Free) or (212) 269-
5550, by email at
This press release is for informational purposes only and does not constitute a notice of redemption under the
optional redemption provisions of the indenture governing the 2023 notes, nor does it constitute an oer to sell,
or a solicitation of an oer to buy any security, including the debt securities oered in the debt nancing (the
"new notes"), nor does it constitute a solicitation for an oer to purchase any security, including the new notes or
the 2023 notes. The tender oer is being made solely by means of the Oer to Purchase, which sets forth the
complete terms and conditions of the tender oer. The tender oer is not being made to holders of 2023 notes in
any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue
sky or other laws of such jurisdiction.
About Sunoco LP
Sunoco LPis a master limited partnership with core operations that include the distribution of motor fuel to
approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located
in more than 30 states as well as rened product transportation and terminalling assets. SUN's general partner is
owned by Energy Transfer Operating, L.P., a wholly owned subsidiary of Energy Transfer LP (NYSE: ET).
Forward-Looking Statements
This news release may include certain statements concerning expectations for the future that are forward-looking
statements as dened by federal law, including without limitation statements regarding the tender oer and the
concurrent debt nancing. Such forward-looking statements are subject to a variety of known and unknown risks,
uncertainties, and other factors that are dicult to predict and many of which are beyond management's control.
An extensive list of factors that can aect future results are discussed in Sunoco's Annual Report on Form 10-K
and other documents led from time to time with the Securities and Exchange Commission. In addition to the
risks and uncertainties previously disclosed, Sunoco has also been, or may in the future be, impacted by new or
heightened risks related to the COVID-19 pandemic and the recent decline in commodity prices, and cannot
predict the length and ultimate impact of those risks. Sunoco undertakes no obligation to update or revise any
forward-looking statement to reect new information or events.
The information contained in this press release is available on our website at
Scott Grischow, Vice President – Investor Relations and Treasury
(214) 840-5660,
Derek Rabe, CFA, Manager – Investor Relations, Strategy and Growth
(214) 840-5553,
Alexis Daniel, Manager – Communications
(214) 981-0739,
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